File photo | The Lima News
LIMA — The Mall at Lima, LLC has issued a complaint against Allen County. According to the Texas Southern Bankruptcy Court, the case was filed in May of 2022. According to the complaint filed by the company, the LLC is requesting the court determine its ‘tax liability’ to Allen County.
Allen County Auditor Rachael Gilroy met with the Allen County Commissioners and Allen County Assistant Prosecutor Kayla Campbell Thursday afternoon to discuss the case. No decisions were made on Thursday. The meeting went into an executive session to discuss updates.
“The Lima Mall’s previous owners had filed for bankruptcy in Texas,” said Gilroy. “A part of the complaint they filed is they’ve alleged that we have their property valued too high.”
The Mall at Lima, LLC was the previous owner of the Lima Mall. According to a recent article from The Lima News, the Lima Mall Realty Holding LLC purchased the mall for $12 million in April from Simon Properties spin-off Washington Prime Group.
According to the petition, the Allen County Auditor assessed the value at $13,423,700 in 2021. The purchase includes 46.4 acres and 652,254 square feet of shopping mall space at 2400 Elida Road, where the mall originally opened in 1965. It was valued at $17.45 million in 2017, according to the Allen County Auditor’s Office website.
The deal also includes another 15.1 acres with 201,912 square feet of space in the former Macy’s location at 2600 Elida Road, which was built as a Lazarus store in 1971 before becoming Macy’s in 2003. That property was valued at a peak of $8.16 million in 2009 but sold for just $3 million when Lazarus Real Estate II sold it to Mall at Lima LLC for $3 million in October 2020.
The article also reports the previous owners of Washington Prime Group filed for bankruptcy in 2021.
The case remains ongoing at this time.
Reach Precious Grundy at 567-242-0351.
